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Basic Monte Carlo Simulation for Beginning Econometrics

Basic Monte Carlo Simulation for Beginning Econometrics

Beginning econometrics students often have an uneven preparation in statistics. Simulation can help with both an understanding of the analytically derived means and variances of regression estimators and the intuition of a sampling distribution. The instructional problem, however, is that many simulations are either black boxes to students or written in a programming language that is not easily understood by beginning students. The Stata...

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